70,445 Dorman Products, Inc. $DORM Shares Sold by Royce & Associates LP

Royce & Associates LP lessened its stake in Dorman Products, Inc. (NASDAQ:DORM) by 8.5% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 753,771 shares of the auto parts company’s stock after selling 70,445 shares during the quarter. Dorman Products comprises 0.8% of Royce & Associates LP’s holdings, making the stock its 6th biggest position. Royce & Associates LP’s holdings in Dorman Products were worth $92,412,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Bank of America Corp DE bought a new stake in shares of Dorman Products during the 2nd quarter worth about $57,222,000. Jupiter Topco LLC acquired a new stake in shares of Dorman Products in the 2nd quarter worth approximately $1,605,000. Legal & General Group Plc acquired a new stake in shares of Dorman Products in the 2nd quarter worth approximately $8,620,000. Reinhart Partners LLC. boosted its holdings in shares of Dorman Products by 1.8% in the third quarter. Reinhart Partners LLC. now owns 696,562 shares of the auto parts company’s stock valued at $85,399,000 after acquiring an additional 12,180 shares in the last quarter. Finally, Corient Private Wealth LP bought a new position in shares of Dorman Products in the second quarter valued at approximately $4,651,000. Institutional investors own 84.70% of the company’s stock.

Dorman Products Price Performance

Dorman Products stock traded up $0.31 during midday trading on Friday, hitting $132.31. The company’s stock had a trading volume of 206,483 shares, compared to its average volume of 261,244. The company has a quick ratio of 1.88, a current ratio of 3.65 and a debt-to-equity ratio of 0.28. The stock’s 50-day moving average price is $127.04 and its 200-day moving average price is $124.09. Dorman Products, Inc. has a 12 month low of $98.44 and a 12 month high of $155.37. The company has a market capitalization of $3.90 billion, a PE ratio of 19.69 and a beta of 0.98.

Dorman Products (NASDAQ:DORM) last issued its quarterly earnings results on Monday, October 26th. The auto parts company reported $2.08 earnings per share for the quarter, beating analysts’ consensus estimates of $2.00 by $0.08. Dorman Products had a net margin of 9.30% and a return on equity of 17.87%. The company had revenue of $561.72 million during the quarter, compared to the consensus estimate of $565.33 million. During the same period in the prior year, the company earned $2.62 EPS. Dorman Products’s revenue was up 3.3% on a year-over-year basis. Analysts anticipate that Dorman Products, Inc. will post 8.61 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Freedom Broker upgraded shares of Dorman Products from a “hold” rating to a “buy” rating and lowered their price objective for the company from $154.00 to $152.00 in a research note on Wednesday, October 28th. Roth Capital restated a “buy” rating on shares of Dorman Products in a research report on Wednesday, August 5th. Weiss Ratings lowered Dorman Products from a “hold (c+)” rating to a “hold (c-)” rating in a research note on Wednesday, October 28th. Wells Fargo & Company decreased their price target on Dorman Products from $160.00 to $150.00 and set an “overweight” rating for the company in a research note on Friday, October 23rd. Finally, Freedom Capital cut Dorman Products from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 10th. Seven research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $151.17.

Dorman Products Company Profile

Dorman Products, Inc. develops, sources and markets replacement parts and solutions for the automotive aftermarket. Its products serve passenger cars, light- and heavy-duty trucks, and other vehicles, and are sold under the Dorman and other brand names. The company’s offerings span vehicle systems and components, including engine and powertrain parts, steering and suspension components, brake and electrical products, body and interior parts, and hardware. Dorman also develops products intended to address repair needs that may not be met by traditional replacement parts.